Royal Bank of Scotland -Natwest One Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Royal Bank of Scotland -Natwest One offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Royal Bank of Scotland -Natwest One and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I am seeking some mortgage advice. I am currently a media contractor, 12 months into a 2 contract. However, I'm unlikely to be moved onto a permanent contract until around December time. My question is, will Royal Bank of Scotland -Natwest One even consider me for a mortgage before then? Is there such thing as a ‘contractor mortgage’?
I am an IT contractor looking to buy a home in Nottingham. My next step is to secure a mortgage preferably from Royal Bank of Scotland -Natwest One. Should I contact Royal Bank of Scotland -Natwest One directly or seek the help of a contractor specialist mortgage broker who focuses on dealing with contractors and Royal Bank of Scotland -Natwest One.
What criteria does a mortgage lender (for example Royal Bank of Scotland -Natwest One) adopt to class a borrower as a contractor or self-employed. For instance does one have to own more than a particular percentage of a company?
in the throws of proceeding through the contractor mortgage process to move to a buy to let with a new bank. All paperwork completed and submitted. Received communication from the lender to say they can't move forward with process unless my current manager issues a letter confirming that my contract will definitely get extended and when new end date will be. Any thoughts?
I am lead to believe that banks and building societies in the main view contractors as high risk applicants; so require 3 years’ accounts to substantiate mortgage affordability. In my case as a finacial contractor, this evidence is unlikely to paint an accurate picture of my income potential. Will a broker specialising in contractor mortgages persuade lenders such as Royal Bank of Scotland -Natwest One to offer funds on the more realistic basis of my contracted rate.
The above information is in relation to properties in England and Wales.
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